![]() On completing my CA in 1984, I accepted the challenge of making a career by investing and trading in stocks. I read somewhere that “A balance sheet is like a bikini – what it reveals is alluring, what it hides is vital.” I learnt that this is right. I soon realised that companies have the highest quantum of profits, or highest reserves and surplus, or that the highest net worth need not necessarily have the highest stock price. In the meanwhile, I completed my graduation and started my chartered accountancy. ![]() I was told that profit and loss accounts and balance sheets play an important role in determining stock values, and thus I started reading every annual report that I could lay my hands on and scanned the newspapers for news on companies’ profits. He asked me to relate fluctuations to the news items appearing in the newspapers, thus, beginning the unending process of my education as an investor. I was a curious child and was constantly quizzing my dad as to why these values fluctuate. ![]() I started reading the daily stock quotations in the newspapers and realised that stock values fluctuate and I found that fascinating. The adulation for RJ is not just because of his long-running track record in investing but also because he had maintained his dignity for so long in stock markets, where high fliers have often turned out to be dubious or at least have tarnished their reputation at some point or the other.Įxcerpts from an interview published in Outlook Profit issue dated February 6, 2009:Īt a comparatively young age of 15, my fathers’ conversations with various people introduced me to the world of stocks and stock markets. Even less known is the fact that it was his aggression in trading that had been his primary source of capital. What is less talked about is the serious risk that accompanied these investments when they were made. Everyone is aware that his riches were created through stocks he held for many, many years and the wait that proved to be worth it. Jhunjhunwala, 62, was an icon for millions of wannabe stock market millionaires. His conviction in the future of India was spell-binding, to say the least. His high-pitched rhetoric transfixed all who listened to him, mainly because he passionately believed something that we would all like to believe as well: Our own great future. If there was one man who could make everyone sit up and listen to him, it was Rakesh Jhunjhunwala.
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